Bringing the owners back in: An analysis of a 3-mode interlock network
(English)Manuscript (preprint) (Other academic)
This paper examines the association between ownership and director inter-locks in Swedish big business between 1990-2005. By analyzes of the 3-mode network of owners, firms, and directors, it is showed that ownership and director interlocks are highly associated. Over the 16 years analyzed, up to 47.1% of all multiple director assignments are dependent on owner inter-locks, and the range is 0.307 (2001) to 0.471 (1991). Although still high, the association between ownership and directorship interlocks has decreased during the studied period. This is shown to be due to a decrease in the asso-ciation between ownership interlocks and director interlocks for directors without any CEO positions. For directors with at least one CEO position, the association between the interlock types is stable over the entire period. The findings provide a new understanding of the mechanisms behind the formation of director interlocks. Furthermore, the association between the interlock types suggests that the ownership network may potentially (co-)produce some of the phenomena that have been attributed to the director network. Future analyses of director interlocks have to bring the owners back in.
Social network analysis, Director interlocks, Ownership structrures, Corporate governance, 3-mode networks
Research subject Sociology
IdentifiersURN: urn:nbn:se:su:diva-36773OAI: oai:DiVA.org:su-36773DiVA: diva2:290120